International Journal of Social Science & Economic Research
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Title:
Estimating the Impact of Digital Payment Transactions on Inflation in India

Authors:
Shivaangi Goel

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Shivaangi Goel
Modern School Barakhamba Road, New Delhi

MLA 8
Goel, Shivaangi. "Estimating the Impact of Digital Payment Transactions on Inflation in India." Int. j. of Social Science and Economic Research, vol. 10, no. 1, Jan. 2025, pp. 238-251, doi.org/10.46609/IJSSER.2025.v10i01.012. Accessed Jan. 2025.
APA 6
Goel, S. (2025, January). Estimating the Impact of Digital Payment Transactions on Inflation in India. Int. j. of Social Science and Economic Research, 10(1), 238-251. Retrieved from https://doi.org/10.46609/IJSSER.2025.v10i01.012
Chicago
Goel, Shivaangi. "Estimating the Impact of Digital Payment Transactions on Inflation in India." Int. j. of Social Science and Economic Research 10, no. 1 (January 2025), 238-251. Accessed January, 2025. https://doi.org/10.46609/IJSSER.2025.v10i01.012.

References

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ABSTRACT:
In recent years, India has witnessed a remarkable shift in its financial ecosystem, driven by the rapid adoption of digital payment systems. A defining moment in this transformation was the 2016 demonetisation, when the government removed ?500 and ?1,000 notes from circulation. This event disrupted cash-based transactions, prompting millions of people to explore cashless alternatives. In response, digital payment platforms such as e-wallets and the Unified Payments Interface (UPI) gained widespread popularity, becoming crucial tools for daily transactions. Today, India stands as a global leader in digital payments, with UPI alone facilitating over 9 billion transactions each month as of 2024, according to data from the Reserve Bank of India (RBI).

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